Harleysville homebuilder TH Properties has yet to file its final reorganization plan in U.S. Bankruptcy Court despite an agreement to submit the plan by June 30. The company released a statement Tuesday saying it would file its full reorganization plan "within the next two weeks. " "The filing has not been delayed and is within our anticipated time frame," the statement read. A spokeswoman said the company would not comment further. TH Properties, which is more than two years into a Chapter 11 bankruptcy case, released a statement in April saying it had reached an agreement to file the plan on or before June 30 and obtain approval of the plan by the end of September.

Tribune Co. creditors appealed the newspaper chain's reorganization plan and asked a judge to temporarily halt the company's effort to exit bankruptcy. Aurelius Capital Management LP and other holders of Tribune's oldest debts asked U.S. Bankruptcy Judge Kevin Carey to suspend his order approving the plan and a related legal settlement until a higher court reviews the case. Aurelius claims Carey erred when he approved a settlement that ended some lawsuits against lenders that financed the more than $8 billion leveraged buyout of Tribune in 2007.

Ponderosa Fibres of Pennsylvania Inc., the Northampton paper recycler sagging under the weight of a $167 million debt, will file a reorganization plan at U.S. Bankruptcy Court in Reading within two weeks, a company attorney says. David A. Murdoch, a Pittsburgh lawyer handling Ponderosa's bankruptcy case, said he intends to file the plan no later than June 22. Murdoch said the plan will outline Ponderosa's strategy for paying off its more than 200 creditors and emerging as a profitable business.

The Philly Pops wants to get rid of the artistic director who has been its leader for more than three decades, saying his contract is too expensive. PHILADELPHIA (AP) — The Philly Pops wants to get rid of the artistic director who has been its leader for more than three decades, saying his contract is too expensive. The request filed Monday before a federal bankruptcy judge calls Peter Nero's contract "simply too economically burdensome. " The orchestra says it's searching for a replacement and will use guest conductors to save money.

Reorganization of the bankrupt Mountain Laurel Resort has been approved by U.S. District Court, and the hillside Pocono retreat and country club is a chip shot away from going on the market. The reorganization calls for Mellon Bank, the deed holder, to pay back nearly $790,000 in delinquent taxes to the Weatherly School District, Carbon County, and Kidder Township over the next three years, according to papers filed in U.S. Bankruptcy Court, Middle Pennsylvania District, Wilkes-Barre.

Allegheny International Inc. said yesterday the 3rd U.S. Circuit Court of Appeals has cleared the way for management to file a bankruptcy court reorganization plan. The appeals court in Philadelphia also ruled Tuesday that management may count votes cast at a shareholders meeting next week and announce the results immediately, the company said. Company spokesman Edward Romanoff said management planned to file its reorganization plan by the end of the month, but he declined to specify whether the filing would precede the shareholders meeting scheduled for Monday

In the courts A federal bankruptcy judge yesterday extended until June 23 Wheeling- Pittsbur gh Steel Corp.'s latest deadline for filing a reorganization plan so he can study a proposal to create a super-chief executive under his supervision. Under the proposal, a compromise worked out by the company and its creditors to expedite the long-delayed reorganization plan, chief executive officer William J. Scharffenberger will make a monthly report to Judge Warren Bentz on the plan's progress.

Wheeling-Pittsburgh Steel Corp. should have a reorganization plan ready to submit to a bankruptcy judge by year's end, the steelmaker's top executive said yesterday. William Scharffenberger, the company's president and chief executive officer, predicted that Wheeling-Pitt could emerge from Chapter 11 as early as the second quarter of 1989. The Wheeling, W. Va.-based steelmaker has been operating under bankruptcy protection since April 1985.

A.H. Robins Co. has filed a fourth version of its reorganization plan to guide it from Chapter 11 bankruptcy into a merger with the American Home Products Corp. while providing a settlement for Dalkon Shield claimants. The plan and an accompanying disclosure statement were submitted to a federal bankruptcy judge Monday night and will be the subject of a March 10 hearing in U.S. District Court. The reorganization plan, which has been revised as Robins intended merger partners have changed, calls for the New York-based American Home Products to acquire Robins through an exchange of common stock worth $700 million.

Tribune Co. creditors appealed the newspaper chain's reorganization plan and asked a judge to temporarily halt the company's effort to exit bankruptcy. Aurelius Capital Management LP and other holders of Tribune's oldest debts asked U.S. Bankruptcy Judge Kevin Carey to suspend his order approving the plan and a related legal settlement until a higher court reviews the case. Aurelius claims Carey erred when he approved a settlement that ended some lawsuits against lenders that financed the more than $8 billion leveraged buyout of Tribune in 2007.

Morning Call parent Tribune Co. may learn by early July whether it has won the first of two rulings it needs to leave bankruptcy this year, lawyers involved in the case said. Should the judge overseeing the case approve the company's reorganization plan by early July, Tribune may be able to exit bankruptcy by August, or by the end of the year at the latest, depending on how long it takes the Federal Communications Commission to make a key second ruling, Chief Reorganization Officer Don Liebentritt said in an interview Friday.

Harleysville homebuilder TH Properties, nearly 21/2 years into a Chapter 11 bankruptcy case, says it has "worked tirelessly and diligently" and has had "tremendous success" in working toward a reorganization plan. Those assertions are made in court papers filed in response to a U.S. trustee's recent request that the builder's case be converted to Chapter 7, meaning liquidation. The company says U.S. Trustee Roberta A. DeAngelis's request should be denied "given how far [TH Properties]

After nearly 21/2 years in bankruptcy, Harleysville homebuilder T.H. Properties has to ward off yet another attempt to have its case converted to a Chapter 7 liquidation case. U.S. Bankruptcy trustee Roberta A. DeAngelis this week filed a motion in U.S. Bankruptcy Court requesting the conversion to liquidation, arguing that TH Properties has continually failed to file a reorganization plan under its Chapter 11 bankruptcy status and is unable to pay its administrative expenses. "There does not seem to be a reasonable likelihood of rehabilitation," the court filing said.

Harleysville homebuilder TH Properties has yet to file its final reorganization plan in U.S. Bankruptcy Court despite an agreement to submit the plan by June 30. The company released a statement Tuesday saying it would file its full reorganization plan "within the next two weeks. " "The filing has not been delayed and is within our anticipated time frame," the statement read. A spokeswoman said the company would not comment further. TH Properties, which is more than two years into a Chapter 11 bankruptcy case, released a statement in April saying it had reached an agreement to file the plan on or before June 30 and obtain approval of the plan by the end of September.

A real estate advisor who called for TH Properties to be liquidated has withdrawn that request in U.S. Bankruptcy Court in Philadelphia under an agreement reached with the home builder last week. TH Properties, based in Harleysville, announced that it had negotiated an agreement with Robert Reeves, who had filed court papers last month indicating he did not foresee the company being able to file a reorganization plan under its Chapter 11 bankruptcy status. Under the agreement, TH Properties has committed to filing a reorganization plan by June 30 and obtaining final court approval on Sept.

TH Properties has abandoned plans to build at one of its Montgomery County properties that has been in limbo since the home builder filed for Chapter 11 bankruptcy protection in 2009. The Harleysville-based company has reached an agreement with one of its lenders to drop its Village at Wynstone property in New Hanover Township from the bankruptcy case. Wilmington Trust of Pennsylvania had filed a motion in U.S. Bankruptcy Court in Philadelphia to have the Wynstone portion of the case dismissed or converted to Chapter 7, meaning liquidation.

A federal judge overseeing Tribune Co.'s bankruptcy case refused Tuesday to let a group of creditors file an alternative to the media company's reorganization plan. The decision means that, at least for now, proceedings in the case will center on the reorganization plan that Tribune filed Monday, one that already has come under fire from two groups of creditors. Creditors in one group -- the lenders who claim they are owed more than $3.6 billion under a 2007 secured credit agreement -- are criticizing Tribune's plan even though they would share ownership of the company alongside JPMorgan Chase and other lenders.

TH Properties officials insist the Harleysville company will survive a complex Chapter 11 bankruptcy and continue a near three-decade tradition of building homes. They may be running out of time to make that happen. Nearly 20 months after filing for Chapter 11 bankruptcy protection, the company has not filed a reorganization plan, has left many bills unpaid and faces "major obstacles" in staying in business, according to court records. Just last week, one of its lenders, Wilmington Trust, filed court papers asking a judge to convert the bankruptcy cases of two TH Properties entities — Northgate Development Co. and Wynstone Development Group — to Chapter 7 cases, which would mean going out of business and liquidating.

A federal judge overseeing Tribune Co.'s bankruptcy case refused Tuesday to let a group of creditors file an alternative to the media company's reorganization plan. The decision means that, at least for now, proceedings in the case will center on the reorganization plan that Tribune filed Monday, one that already has come under fire from two groups of creditors. Creditors in one group -- the lenders who claim they are owed more than $3.6 billion under a 2007 secured credit agreement -- are criticizing Tribune's plan even though they would share ownership of the company alongside JPMorgan Chase and other lenders.